28-year-old Wang will succeed Nicolas Ghesquière, who helmed Balenciaga for 15 years and officially exits the French house today. The New York designer, known for his commercial savvy at the contemporary level, represents a shift for Balenciaga, which under Ghesquière became synonymous with a luxe sport couture silhouette. Balenciaga officials had no comment on the news, WWD reports, while a Wang spokesman did not respond to requests for comment.